Marvell to acquire Lumentum for $115 billion in record AI connectivity deal as shares fall 3%
Marvell will acquire Lumentum for $115 billion in a record deal to expand its AI connectivity business, even as shares of both companies fall.
Marvell Technology announced on Monday a $115 billion acquisition of optical components maker Lumentum, a deal that could set a new record for the largest merger between public companies. The move aims to bolster Marvell's position in the rapidly expanding artificial intelligence (AI) infrastructure market, according to the companies' announcement.
The combined entity would have an estimated total addressable market of $550 billion, providing both firms access to a significantly larger market for their products and services.
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